Friday, 24 March, 2023

IBM anticipates strong revenue year in 2022 on cloud strength, flags Russia hit

<p>IBM said it expects to meet the high-end sales growth target for 2022, despite taking a blow from the suspension of its business in Russia. The impact of Russia will be less than half of total revenue last year, or just over $200M, says IBM CFO James Kavanaugh. The firm said it expects to exceed the mid-single-digit revenue growth target for this year, after exceeding revenue expectations in Q1, led by its focus on cloud services amid rising global technology investment.</p>